Peter Schiff on the recent bitcoin sell off

[Dalmar]

Quite funny to hear this permabear's explanation. 

https://www.youtube.com/watch?v=lMfoFlJhcck#t=65m49s

[thezerg]

Man that guy is unlistenable.  It takes him several minutes just to say price went down in 2014, then he compares it briefly to the price going up the year before, as if those two moves are comparable in magnitude.  Then he picks the dumbest explanation for the drop and proceeds to say that it is dumb.  Then I couldn't take anymore.

[Melbustus]

Man that guy is unlistenable.  It takes him several minutes just to say price went down in 2014, then he compares it briefly to the price going up the year before, as if those two moves are comparable in magnitude.  Then he picks the dumbest explanation for the drop and proceeds to say that it is dumb.  Then I couldn't take anymore.

Just read Eric Voorhees open letter to Peter Schiff again and you'll feel better: http://www.reddit.com/r/Bitcoin/comments/1rxmk3/my_open_letter_to_peter_schiff_followup_from_the

[Ibian]

Who the hell has the patience for two Schiff hours. Post a cliffnote summary dude.

[scv00]

Man that guy is unlistenable.  It takes him several minutes just to say price went down in 2014, then he compares it briefly to the price going up the year before, as if those two moves are comparable in magnitude.  Then he picks the dumbest explanation for the drop and proceeds to say that it is dumb.  Then I couldn't take anymore.

What is his dumb explanation for the drop?

[thezerg]

Man that guy is unlistenable.  It takes him several minutes just to say price went down in 2014, then he compares it briefly to the price going up the year before, as if those two moves are comparable in magnitude.  Then he picks the dumbest explanation for the drop and proceeds to say that it is dumb.  Then I couldn't take anymore.

What is his dumb explanation for the drop?

sry ppl selling to invest in alibaba.

[spiderbrain]

He needs to get his facts right, too. He declared that there is no place you can borrow bitcoins to go short, for instance.

[adamstgBit]

He needs to get his facts right, too. He declared that there is no place you can borrow bitcoins to go short, for instance.

He said bitcoin was stable at 600, hello it was crazy wild swings from 900 to 400 back to 800 down to 600 back to 700 crazy yoyo

this guy....

[rocks]

He needs to get his facts right, too. He declared that there is no place you can borrow bitcoins to go short, for instance.

What is interesting about bitcoin is you have to actually find someone willing to lend you their coins in order to short and then pay them a fee to do so. (i.e. go to Bitfinex and borrow coins)

This is highly different from gold where they just create paper and sell that for free today.

[adamstgBit]

he's just trying to sell gold...